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Consolidated Statements Of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2017
Income Statement [Abstract]      
Net Sales [1],[2] $ 1,307,787 $ 1,222,925 $ 1,201,842
Cost of Sales 981,589 919,419 883,062
Gross Profit 326,198 303,506 318,780
Selling, General and Administrative Expenses 149,811 129,906 125,635
Change in Contingent Consideration (16,180) 2,052 1,156
Restructuring and Impairment Charges 1,643 0 0
Multiemployer Pension Settlement and Related Costs 0 0 17,635
Operating Income [1] 190,924 171,548 174,354
Other, Net 4,618 2,655 1,162
Income Before Income Taxes 195,542 174,203 175,516
Taxes Based on Income 44,993 38,889 60,202
Net Income $ 150,549 [3],[4] $ 135,314 [5] $ 115,314
Net Income Per Common Share:      
Basic (in dollars per share) $ 5.48 $ 4.93 $ 4.21
Diluted (in dollars per share) $ 5.46 [3],[4],[6] $ 4.92 [5],[6] $ 4.20
Weighted Average Common Shares Outstanding:      
Basic (in shares) 27,438 27,403 27,376
Diluted (in shares) 27,537 27,459 27,440
[1] All intercompany transactions have been eliminated.
[2] Net sales and long-lived assets are predominately domestic.
[3] Included in the fourth quarter and fiscal year net income were after-tax ERP expenses of $1.4 million, or approximately $0.05 per diluted share, and after-tax restructuring and impairment charges of $1.3 million, or approximately $0.05 per diluted share.
[4] Included in the second quarter and fourth quarter net income was an after-tax benefit of $7.4 million and $5.7 million, respectively, or approximately $0.27 and $0.21 per diluted share, respectively, related to the reduction in the fair value of Angelic’s contingent consideration liability. The after-tax benefit for the fiscal year was $13.1 million, or approximately $0.48 per diluted share.
[5] Included in the second quarter net income was the one-time preliminary deferred tax benefit of $8.9 million, or approximately $0.32 per diluted share, resulting from the Tax Act. The fiscal year impact was $9.5 million, or approximately $0.35 per diluted share.
[6] Diluted net income per common share amounts are calculated independently for each of the quarters presented. Accordingly, the sum of the quarterly net income per common share amounts may not agree with the fiscal year.